Bank managers have to take whole lot of responsibilities as he/she is the captain of the branch. This is the reason why managers in banks are always found to be monitoring the complete bank sitting in the glass room. They have to track the regular record keeping tasks of the accountants to the daily transactions. Besides, the professionals have to work as business developers and their key target is to improve the business of the bank. Managers have to take marketing responsibilities and have to convince people for opening new accounts in the bank and to apply for loans. Maintaining the overall discipline in the office is also one of the crucial liabilities of the branch managers.

How to become a bank manager?

It was a time when clerks were promoted to official ranks and from there they were elevated to the ranks of assistant managers, managers, deputy managers and regional managers. But today the financial institutes recruit in their managerial positions directly. Usually the MBA candidates are preferred for these positions. The only reason is that they are well trained with the processes of business development and have the knowledge to monitor the finance; the heart and lung of banking. Often management trainees are recruited as assistant managers in banks. This is a completely a part of their practical training. Students with finance specializations and business operations are preferred by the bank recruiters. They can handle the fiscal responsibility better.

Duties and responsibilities of bank managers:

Maintaining discipline: A bank manager is the supreme authority of the branch. The professional has to take care of the overall discipline of the office. They have to monitor the attendance and overall performance of the employees. Therefore, these officials are supposed to be self disciplined and have to show outstanding performance to retain the position and to reach hierarchy. These professionals have to check whether any of the employees is misbehaving with any customer or with their colleagues. If he/she notes any such nuisance, managers are supposed to take immediate action. They can warn the employee or can take proper step against the employee, if he/she is found to be continuing with mistakes.

Business development: These days, bank managers have to take the responsibility of developing the business of the banks. They have to take care of the overall business development of the bank. In both private and public sectors banks managers have to meet up with the targets. They have to show business at the end of the day. Banks offer financing services such as- educational
loans for students, home loans for those who are aspiring to own a self house, car loans and personal loans. Managers have to let clients aware of these loans and other financial investment plans that the concerned bank is providing. Mutual funds, bonds, FD and medical insurances are some of the key investment schemes that banks offer. The officials have to locate the right target audiences and have to offer them the plan which suites best. For example an Indian
pensioner will always want to invest the money in such a way so that he/she might get good interest per month. Managers have to inform them about the interest rate the bank is offering for the senior citizen clients.

A positive attitude and a perfect team leading attitude: When candidates attend various banking courses, they are trained to keep a positive attitude towards their job. Branch managers always have to maintain pleasant personality and a positive attitude. He/she must have the ability of an excellent Team Leader to support the complete team working in the branch. They have to solve any crisis the team is facing. Therefore, they are also the crisis managers and should have the attitude and spontaneity to resolve any kind of issue the bank is
facing.

An Analyst: Managers posted in banks must have the skill of an analyst. They can notice the work of hardworking employees in the bank. Later, he/she can recommend the name during the promotional drives. When it comes to track business development, managers have to keep an eagle’s eye. This is how he/she can keep updates on the business.

For more information regarding career in banking sector, visit this page: www.bestindiaedu.com/career-courses/banking.html

How to become a Bank Probationary Officer

Joining banking sectors is a dream for many Indian graduates. This is one of the most sought after and lucrative career options. Besides private sector banks, most Indian banks are public sectors enterprises. Those who are looking forward to attend the public sector banks have to appear for the exams conducted by IBPS and individual banks in India. Candidates who are interested to get recruited in official ranks appear for the probationary officer’s exams.

POs are expected to have…

Probationary officers in banks are not only recruited to monitor withdrawals and deposits and other banking operations, but they have to shoulder different other responsibilities in the banks. Increasing the revenue of the banks they are working for is one of the primary concerns of these professionals. Indian banks have undergone a havoc change in the last two years. Since the last recession, the banking sectors implement new strategies to achieve more clients and generate revenue. The chief focus is to escalate their business at its best. Therefore, the newly recruited PO have to work hard to prove their abilities in corporate banking, asset management, new loan processes, securities, investments and so on.

The banks deal with…

New age banking follows new strategies. Modeling the international banking sectors, Indian banks have also incorporated core banking facilities and offer internet banking solutions to their clients. This is the reason why different departments are opened in these banks. Probationary officers have to acquire knowledge in almost all banking sections including foreign exchange, forex operations, loan section (home/car/personal, Mutual Funds, Insurances, wealth management, general transactions, section for TDR and recurring deposits (RD), merchant banking, and so on.

Becoming a Probationary officer…

Besides attending banking courses offered by different premier institutes, students must have exceptional analytical skill, knowledge on math, have a zeal to motivate team, logical mind, sincerity, sound know how in banking, history of banking and the present day practices in these business enterprises and so on. Commerce students can take hold of the complete syllabus and exam pattern quicker than students of other disciplines. But there are exceptions and there are proven facts that even a student from arts background has performed excellent in these exams. Candidates should be dynamic, updated with all latest news and current affairs, his/her General Knowledge should be excellent, memorizing abilities will be checked when the candidates will be called for personal interviews.

Facts about the exams…
More or less the structures of the PO exams conducted by Indian banks are same. Here, the IBPS PO examination pattern is thoroughly discussed:
On the first phase, eligible candidates have to appear for written exam. This paper consists of both descriptive and objective questions.
About the Objective Paper:
English Language (25 marks for 50 questions)
Reasoning (50 marks for 50 questions)
Quantitative Aptitude (50 marks for 50 questions)
Computer Knowledge (50 marks for 50 questions)
General Awareness featuring banking industries (50 marks for 50 questions)
About the Descriptive Paper:

In the descriptive paper the English writing skills of the applicants are checked. There candidates have to write précis, essay, letter and so on. The total marks for this exam is 25.

Gross time allotted for the objective section is 150 minutes.
The descriptive portion is a 60 minutes test.
Candidates will be penalized with 0.25 marks for each wrong answer.
Candidates have to secure standardize score to quality in all sections of the test. Based on the scores, they are called for the personal interviews by the participating banks.

Pay Scale of Probationary officers…
Minimum starting salary of PO is INR 10,000 to 18,240.
Scale II Managers is INR 13,820 to 19,920.
Scale III Senior Managers is INR Rs.20, 480 to 24,140.
Scale VI Deputy General Managers is INR 26,620 to 29,340.
Scale VII General Managers is INR 29,340 to 32,600.

Eligibility to appear for the PO exams…

Graduates of any discipline can apply to appear for the Indian public sector banks. Banks follow a particular norm of recruitment. Whether the concerned bank is conducting exams or IBPS, the pattern of exam is almost same. First candidates have to complete the online form and pay via ecommerce. On the second lap they receive the admit cards via email. Next, the candidates appear for the written tests, GD and personal interview rounds to clear the complete examination process. Candidates can attend banking courses after 10+2. It is a fact that MBAs, graduates with economics, mathematics, and commerce perform better in these tests. Professional CA and CFAs also perform exceptionally in these PO examinations.

Prospects…

Career as a PO is challenging and professionals have to find out best ways to win over all odds and professional hazards quickly and effectively. Those who work exceptionally well are promoted to Managers, Deputy Managers and sometimes the luckiest candidates retire as General Managers from their banks.

Banking colleges in India

Banking colleges in India focus on topics like computerized accounting, basic banking, legal operations and management etc in their curriculum. Entrance tests like CET and NBET are the gateway to enter the premier banking colleges in India.

Top banking courses:

• Diploma in treasury investment and risk management
• Certificate examination in SME finance for bankers
• Advanced wealth management course
• Diploma in banking technology
• Certificate examination in credit card for bankers
• Certificate examination in trade finance
• Certificate examination in customer service & banking codes and standards
• Certificate examination in foreign exchange facilities for individuals
• Certification in basics of banking

MBA programs in banking:

Few banking colleges offer MBA programs specialized in banking and finance. Indian Institute of Banking and Finance offer one year time full banking program in Diploma in Banking and Finance. National Institute of Bank Management also offers one year full time Post Graduate Programme in Banking and Finance. Indian Institute Of Commerce & Trade(IICT) is offering 2 years full time MBA in Banking. Those who are looking for online/distance mode of learning can attend Indira Gandhi Open University (IGNOU). The Open University offers part time Master of Business Administration in Banking and Finance.

1 year MBA courses – Are they worth it?

Appearing for CAT this year? Many people aspiring for MBA degree are perplexed about choosing between one or two year programs. In India, one year old programs are viewed with skepticism.

Benefits of one year MBA programs

Less costly

A one year program cost lesser than a full fledged two year programs. A student not only saves in terms of fee but also by not losing salary of an additional year.

Less time and intensive learning

A student will have to spend only one year for earning MBA degree. Since whole class comprise of experienced candidates, students are more serious and can learn from each others’ corporate experience.

Is it worthy for me?

Whether one year program is worthy for you or not depends on your work experience and current salary.  If you have 4-5 years of work experience, it is recommended that you go for one year executive programs offered by top B-schools in India. Always choose top rung institutes for pursuing one year course. Otherwise it will not be helping much as you have to settle for an average CTC after completion of the course.

One year program students from ISB and IIMs get around 100-200% hike in compare to pre-MBA salaries.

Better to join a full time course than enrol online

It is any day better to join a full time hotel management course than to do it online from a distant university. Hotel management is an upcoming field and the discipline is constantly evolving; courtesy, the introduction of new technologies.

Though online courses are constantly being updated, joining a regular program gives an extra edge to the candidate. Practical classes to support theoretical instruction, classroom interaction and regular workshops definitely add more value to the course.

This does not mean that online education is not recommended; because they are a boon for those already working. Just that hotel management as a discipline is such that an online program may not be able to do complete justice in terms of drilling you with concepts.

Besides, most universities have a tendency to pay more attention to regular students than those who enroll for virtual classes. Also, the method of instruction in foreign universities may not be easy to follow. Importantly, there are several certified and accredited hotel management institutes in India. Most of these maintain global standards and have been successfully grooming professionals who work for top hotels in the country and abroad.

The National Council for Hotel Management & Catering Technology (NCHMCT) is an autonomous body that works under the aegis of the Ministry of Tourism, Government of India. This body manages hospitality courses that are imparted at all the 21 institutes located across the country.

Besides, there are several private colleges and institutions run by hotel chains that instruct aspirants in hotel management and technology.

Online MBA studies in India

Are you planning to attend an online MBA program in India?  This is a great idea but before taking any final step, know whether you are on the right track! Top online colleges offer excellent MBA programs.  IGNOU is the pioneer in implementing online (distance) education in India. Besides, there are many other universities that offer online mode of management courses.

Few such significant universities are:

  • Sikkim Manipal University
  • IGNOU
  • Symbiosis Center of Distance Learning
  • Osmania University
  • Nalanda University
  • Annamalai University
  • Netaji Subhas Open University(WB)

Benefits:

  • Those Indian students who have to join job soon after graduation, often get a chance to complete their higher studies with the help of online education facilities. With the help of online MBA programs, today many career aspirants are successfully materializing their dream of bagging a management degree.

  • There are still a certain section of Indian families that do not allow their girls and wives to continue education after they got married or grown up. These girls now feel blessed to attend online MBA programs.

  • After bagging the MBA degrees/diplomas, candidates are recruited in bigger companies along with excellent pay packages.

Online education is really a boon for a certain section of Indian students!

The 3rd National Banking Career Fair

The Institute of Finance Banking & Insurance (IFBI) that is a part of the NIIT education network is organizing a spate of banking events in different parts of the country beginning July 3, 2013 to July 26, 2013. The primary objective of these fairs is to generate awareness among students about the banking industry in India.

This pan India fair celebrates the institutions success that crossed a milestone of having trained more than a lakh students to join the employment force in the banking and financial sector. The institutes qualified counselors and guest lecturers coach, counsel and guide students at a personalized level. They try and educate students on aspects of pre-entrance examination training, entrance exams et al.

IFBI prides itself in having organized several job-oriented programs that help aspirants give direction to their career plans. Candidates are given extensive training with regard to specific domain knowledge, sales and marketing with focus on the BFSI industry and special sessions in client communication and management.

IFBI successfully collaborates with large corporations in the Indian BFSI sector and ensures placement of deserving candidates once they complete their course and training.

As the government is on its way to full filling its commitment to encourage the banking sector to expand, the opportunities for qualified and skilled professionals are immense. IFBI intends to tap this market and train professionals who can join in various capacities in public sector, private and government banks. This will definitely reduce the gap in demand for skilled personnel and availability of professionals. For more information, visit – http://www.bestindiaedu.com/career-courses/finance.html